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Uniper Shares Rebound on Reports of Imminent Nationalization Deal

By Giulia Petroni

 

Uniper SE's shares reversed into positive territory late Tuesday amid reports that a deal to nationalize the struggling gas utility will be outlined in the coming days.

At 1342 GMT, shares are up 1.5% at EUR4.08, having dropped as low as EUR3.67 earlier in the session.

A provisional agreement between the German government, Uniper and its main shareholder Fortum Oyj has been reached and a statement is expected later this week, Bloomberg reported, citing unnamed sources.

Last week, Uniper said no decisions beyond what was agreed to in the stabilization package in July have been made, but that parties were looking into alternative solutions including a potential equity raise that would result in a significant majority participation by the state.

Uniper wasn't immediately available for comment. Fortum Oyj and the German Economy Ministry declined to comment.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

September 20, 2022 10:24 ET (14:24 GMT)

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